Friday, May 25, 2007

More depressing real estate news in Jacksonville

...A day after the U.S. Commerce Department reported a surge in the sale of new homes across the country, FAR reported that sales of existing single-family homes in the first quarter of 2007 fell 26 percent in Florida, while the median price dropped 3 percent to $237,000.

In Jacksonville, sales dropped 14 percent from the first quarter of last year and the median price edged up 1 percent to $199,500.

Sales were down by at least 9 percent in 19 of the 20 markets tracked by FAR. Jacksonville was one of only six markets that saw an increase in the median price, with none more substantial than the 4 percent increase in Tallahassee.

In the condominium market, things were even worse. The median price of an existing condo in Jacksonville dipped 7 percent to $152,300, and sales were down 23 percent from the first quarter a year ago. Sales were down 30 percent statewide and the median price was up less than 1 percent to $210,800...

This info was provided by FAR (FL Association of Realtors) and the Jacksonville Business Journal.

I think the numbers speak for themselves. There are pockets of town that have faired much, much worse...some not hit quite as hard. Overall though, the air continues to seeeeep out of the bubble. In fact, there's not much air left in that ol bubble. To be continued...

A little more gas on the fire...

"...Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.37 percent nationwide this week, up from 6.21 percent last week. It was the highest level for 30-year mortgages since they averaged 6.40 percent the week of Oct. 26.Analysts said the second consecutive weekly increase in 30-year mortgage rates after they had been unchanged or fallen for a month reflected concerns in financial markets that inflation worries will keep the Fed from cutting rates in coming months."Stronger than expected consumer confidence and recent comments from members of the Fed raised some inflation concerns in the market, causing it to lower expectations of a Fed rate cut this year," said Frank Nothaft, Freddie Mac's chief economist."

Maybe this is the impetus needed to make some buyers get off the fence. With interest rates rising, NOW may be the time to make that offer on a home you've been looking at! It could mean saving a LOT of money on a monthly note if you can lock in rates now and maybe make a low offer on a property that's been on the market for a while. At least a low offer will start the communication process.

Wednesday, May 23, 2007

Jacksonville-Kernan Blvd-UNF Home For Sale

This home is conveniently located near J Turner Butler, Beach Blvd, I-95 and all of Jacksonville! Great family neighborhood with excellent schools and close to shopping and the beach. This home has 3 nice sized bedrooms, a large kitchen, large family room and a over-sized screened porch with 2 ceiling fans. Great place for outdoor dining or a kids play area. Dining room has beautiful Pergo floors and the kitchen has updated tile. Fresh paint, meticulous upkeep and GREAT PRICE make this a "must-see". This house is the very best value in the neighborhood. One house 2 doors down is listed at $260,000 FSBO and the only other home on the market is around the corner at $249,000. We are the best value in Ashwood subdivision!!! My seller is very motivated. Let's talk soon.
This home is offered at $228,000.00 MLS#340933
Ronda Densford, REALTOR
Platinum Realty Enterprises LLC
(904) 885-9907 (904) 241-2386

Jacksonville Homes For Sale 34 S 26th Ave 32250

This is one of my favorite listings! I'd love to show it to you at your convenience. Just give me a call and I'll be happy to meet you there.

34 South 26th Ave Jacksonville Beach, FL

This beautiful beach home is just steps to the ocean. It has been completely refurbished, including: new paint, new roof, new appliances, new tile, new lighting fixtures, new pulmbing fixtures, new siding, new insulation, and much more! This home is now like new. Listed at $895,000 MLS #350763